How to Earn Free Cryptocurrency: 10 Legit Ways for 2023

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have exploded in popularity in recent years. While buying crypto requires having capital upfront to invest, there are a number of methods you can use to earn free crypto without spending any of your own money. 

This guide will outline the top strategies you can use today to earn free cryptocurrency legitimately.

Get Free Cryptocurrency from Airdrops

One of the most common ways to get free crypto is through airdrops. A crypto airdrop is an event where coins or tokens are distributed freely or at a huge discount by cryptocurrency projects and platforms. 

Projects do this to build awareness and increase the circulation of their coin early on. All you need to do is sign up with your wallet address, complete a few social tasks like following them on Twitter or joining their Discord channel, and you’ll receive a certain number of free coins.

Some reputable platforms that frequently offer airdrops include Coinbase, Binance, and Bittrex. You can find upcoming airdrops announced on the exchange’s website, through email newsletters, or on airdrop listing sites like AirdropAlert. 

Be careful not to fall for fake airdrop scams trying to steal your crypto though. Legitimate projects will never ask you to send coins first before receiving airdropped tokens. Also, be aware that earning crypto via airdrops may be a taxable event in many jurisdictions.

Earn Crypto with a Crypto Faucet

A crypto faucet dispenses rewards in the form of tiny fractions of cryptocurrency in exchange for completing simple actions like watching an ad, playing a game, or solving a captcha. 

Some of the most popular Bitcoin faucets include Moon Bitcoin, Bitcoin Aliens, and Cointiply. For altcoins, check out faucets like BonusBitcoin or FaucetCrypto.

The steps to earning crypto on a faucet are simple:

1. Register for an account and input your wallet address 

2. Complete the captcha or task to earn a small amount of crypto

3. Accumulate satoshis or altcoins until you reach the minimum withdrawal limit

4. Transfer your faucet earnings to your crypto wallet

The amounts earned per task are usually very small, but over time they can add up, especially considering some faucets also have referral programs. Just don’t expect to get rich quick with faucets. They’re more useful for learning about crypto.

Earn Free Crypto through Coinbase Earn 

Coinbase Earn is a learning platform by the Coinbase exchange that rewards users with free crypto in exchange for learning about new digital assets.

To start earning:

1. Create a Coinbase account if you don’t have one already

2. Browse the list of available assets on Coinbase Earn and select a lesson 

3. Watch the educational videos and take a short quiz 

4. Receive the crypto reward directly in your Coinbase wallet

The platform is only available in select countries, and the rewards vary depending on the asset. Currently, Coinbase offers Earn lessons on assets like Compound, Ankr, Maker and Stellar Lumens with rewards valued from $3 to $40. Just be mindful of any transfer fees when you move the assets out of Coinbase.

Get Paid Crypto for Completing Tasks

Another option is to complete simple tasks on websites and apps to earn crypto rewards and bonuses. 

For example, Coinbase offers users the ability to earn $10 worth of Stellar Lumens (XLM) by watching videos and completing quizzes about specific cryptocurrencies. 

Other platforms like PlaySpot, FeaturePoints, and Lolli reward users in Bitcoin for playing games, taking surveys, reviewing products, watching videos and referring friends. Crypto reward sizes vary greatly depending on the platform and type of task.

While these offer low barriers to entry, be sure to fully read the terms and only use reputable platforms that actually deliver rewards. Also, know that rewards will likely incur income taxes.

Stake Crypto to Earn Reward Tokens

If you already own cryptocurrency, you can grow your holdings for free via crypto staking. Staking involves locking up your crypto assets to both help validate transactions on proof-of-stake blockchains, as well as earn staking rewards. 

Trusted staking platforms include Kraken, Exodus, Ledger Live, Atomic Wallet, and Guarda Wallet. The staking process is pretty straightforward:

1. Transfer your crypto to the supported wallet or exchange

2. Select the staking option and choose your preferred tokens  

3. The platform will stake your coins and automatically distribute periodic rewards

The APY earned varies greatly depending on factors like the minimum staking amount and coin. Top coins for staking include Tezos, Cosmos, Cardano, and Polkadot. Just be sure to choose reputable platforms that don’t charge fees and offer good staking yields.

The Takeaway

As you can see, there are plenty of creative ways to earn crypto without spending any money through airdrops, faucets, educational lessons, tasks, and staking. While individual earnings may be small, they add up over time and help you learn about the world of cryptocurrency.

Just be sure to do your own research before signing up for any platform to avoid scams. And consult a tax professional to ensure you properly account for any crypto earned if required.

With this, you now have all the main methods needed to start accumulating some free cryptocurrency today!

Author Profile

Helen is a passionate and knowledgeable writer with a keen interest in all things crypto. With a background in finance and technology, she delves into the world of cryptocurrencies, blockchain, and decentralized finance, translating complex concepts into accessible and engaging content. Helen's writing not only informs but also empowers readers to navigate the rapidly evolving landscape of digital assets. Through her work, she seeks to promote financial literacy and foster a deeper understanding of the transformative potential of blockchain technology.